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Economy

Fuel Pump Prices Drop More than Rwf20

Fuel Pump Prices Drop More than Rwf20

Following a drop in oil prices below $50 per barrel on International market, Rwanda has announced a drop in petrol and diesel prices to Rwf1002 ($1.2) and Rwf950 ($1…

New Bill Exempts Double Taxation on Rwandan Exports to Morocco

New Bill Exempts Double Taxation on Rwandan Exports to Morocco

The Rwandan parliament has today unanimously passed a bill on exemption of double taxation on commodities exchanged between Rwanda and Morocco. Parliament urged Rwandans to start investing in Morocco. The…

Rwanda Plans $200m Fund to Subsidise Home Owners

Rwanda Plans $200m Fund to Subsidise Home Owners

Rwanda will in three months set up a multimillion dollar fund to help bring down the current cost of housing, KT Press reveals. Infrastructure Minister James Musoni told KT Press…

Rwanda’s Army Bank Recorded $8.3m Net Profit in 2016

Rwanda’s Army Bank Recorded $8.3m Net Profit in 2016

Rwanda’s Amy bank, Zigama CSS has announced that it earned a total net profit worth Rwf6.8 billion ($8.3 million) in 2016 compared to Rwf5.2 billion ($6…

Banks Earned Nearly $100m Net profit in FY16

Banks Earned Nearly $100m Net profit in FY16

Despite the bad loans, last year banks in Rwanda earned a combined total of Rwf3billion more than they made in the previous year 2015, the central bank announced Wednesday. John…

Why Did ‘Na Yombi’ Customer Care Campaign Fail?

Why Did ‘Na Yombi’ Customer Care Campaign Fail?

During the monthly community work known as ‘Umuganda’ , Ernest Munyeshyaka, a resident of Jali sector – Gasabo district in the capital Kigali surprised many by publicly pinning a local leader for…

Rwanda’s Economy Growing Steadily-World Bank President

Rwanda’s Economy Growing Steadily-World Bank President

The World Bank President Dr. Kim Yong Jim is convinced that Rwanda’s economy is navigating a right path despite limited resources. “Rwanda has managed its economy brilliantly and…

Deal Gone Bad: 16 Containers of Taxi-Motor Headgear Unsold

Deal Gone Bad: 16 Containers of Taxi-Motor Headgear Unsold

More than six years ago, a businessman scooped a deal to import headgears that were to be used by Taxi-motor riders and their clients. He remains a bitter man…

Rwanda’s Inflation Rises to 8.1%

Rwanda’s Inflation Rises to 8.1%

Rwanda’s economy is currently facing rising inflation of up to 8.1% according to recent figures released by the national institute of statistics  (NISR). According to the NISR…

BRD Allocates $267m to Affordable Housing

BRD Allocates $267m to Affordable Housing

Becoming a landlord will be easier next year for anyone earning a stable monthly income of  up to Rwf 300,000. The Development Bank of Rwanda (BRD) has allocated $267…

Rwanda Woos Congolese for I&M Bank IPO

Rwanda Woos Congolese for I&M Bank IPO

Executives from I&M Bank and government officials are in the Rwanda-DR Congo border district of Rubavu to showcase the bank’s scheduled initial public offering (IPO) for…

Rwanda’s Trade Imbalance Down by 5.9%

Rwanda’s Trade Imbalance Down by 5.9%

Rwanda is stepping up efforts to cut down the biting trade imbalance. According to 2016 monetary policy and financial statement released today by Central Bank, the country’s trade deficit…